Pound Liquidity Evaporates as Bid-Ask Spread Soars: Chart

Liquidity in the pound evaporated during two minutes of chaotic selling that saw the currency plunge more than 6 percent. The bid-ask spread -- the difference between the prices at which dealers buy and sell, which is also a gauge of illiquidity -- jumped to more than 250 times its median during the past year as the pound tumbled to a 31-year low against the dollar.

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